Bank Ghavamin to Make Forex Foray

Bank Ghavamin has been pursuing measures that will bear fruit in the next fiscal year (starting March 20, 2018) and allow it to engage in international and foreign exchange transactions for the first time, its chief executive announced. “We have been following up on establishing the necessary infrastructures to establish international banking relations and correspondent banking ties with foreign counterparts,” Gholamhossein Taqi-Nattaj also told IBENA, adding that the bank had so far been only active in rial transactions. According to the bank’s CEO, its infrastructures are almost completely in place, and after the bank obtains permits from the Central Bank of Iran in the near future, it will join the ranks of Iranian banks active on the international scene.